Case Study: Innovation in Waste Refuse and Local Green Energy Production
Steve Perricone, Co-founder of BioFuelBox, explains how his alternative fuel company solves multiple problems in waste refuse, energy production and distribution, across multiple platforms. By converting industrial food waste into biodiesel in remote areas, the company is reducing refuse by repurposing free raw materials into fuel, and reducing the resources necessary to ship fuel to remote and isolated areas. In this clip, Perricone's investor, Jennifer Scott Fonstad, Managing Director of Draper Fisher Jurvetson, also explains interest in the idea from a VC perspective and their belief in its global potential. Perricone also explains the BioFuelBox business model, which simply sells the recovered fuel back to the production plant, and gives them financial incentive as part of the revenue-share.